Article · 8 March 2017 · 2 min read · Katarzyna Kucia

Economic information vs business information

Economic information vs business information

The term economic information (informacja gospodarcza) and the rules for disclosing, storing and updating economic information are laid down in the Act of 9 April 2010 on the disclosure of economic information and the exchange of economic data.

Economic information means data on the monetary obligations of legal entities, sole traders and private individuals. Economic information also covers information about the use of a forged document or someone else's document.

Under the Act, only economic information bureaus are authorised to disclose economic information to third parties. It is prohibited to use the words "economic information bureau" (biuro informacji gospodarczej) and the abbreviation "BIG" in the name or advertising of businesses that do not carry out the business activity specified in Article 7(1) of the Act. Anyone who, while carrying out a profit-making activity, uses the words "economic information bureau" or the abbreviation "BIG" in their name or advertising contrary to the conditions set out in the Act is liable to a fine of up to PLN 5,000,000 or imprisonment of up to 3 years, or both.

There are three economic information bureaus operating in Poland; one of them is Biuro Informacji Gospodarczej InfoMonitor, whose business partner is Infobrokerska.pl.

"Business information" is understood as information useful for running a business in the broad sense. The term "business information" is not defined in legislation. Consequently, there are no legally defined rules or restrictions on the disclosure of business information.

Where to check information on a Polish company

Much of the business information on Polish companies is available free of charge in public registers:

Data on payment arrears, by contrast, are disclosed by economic information bureaus under the rules set out in the Act. Our KRS guide explains how to combine register data into an assessment of a competitor.